#kyc

15 04, 2022

FedFin: BIS Finds Ways to Give Nonbanks Payment-System Access, Increase CBDC’s Inclusion Impact

2023-03-02T10:53:48-05:00April 15th, 2022|Uncategorized|

As promised, we turn here to an in-depth analysis of a paper from global regulators on whether CBDC contributes to financial inclusion – one of the most vital arguments from those advocating CBDC in the U.S. and in many other nations.  The paper is not analytical, as it is based on interviews with nine central banks exploring retail CBDC, but all of those interviewed view CBDC as an effective tool to promote inclusion if designed to do so and the paper also surveys research to back up its findings.  It details numerous ways CBDC could prove inclusive, including a first-time assessment of how making certain CBDC aspects programmable and how regtech could permit nonbanks to enter the CBDC payment system without undue risk…

The full report is available to subscription clients. To find out how you can sign up for the service, click here.…

25 02, 2022

SANCTION16

2023-04-04T15:20:26-04:00February 25th, 2022|5- Client Report|

FedFin Assessment: Sanctions, Crypto, CBDC Outlook all Change Following Invasion

In this report, we address many of the questions we’ve received about U.S. policy in the wake of Russia’s invasion into Ukraine.  We focus in particular on sanctions, but also address longer-term policy implications for the global payment system, cryptocurrency, and CBDC.  It is impossible to forecast final outcomes since Russia’s intentions are unknown with regard not only to Ukraine, but also peripheral nations it believes reside within its empire that are NATO members. Indeed, developments in some of them (e.g., Eastern Poland) are already arguably within the range of actions that might trigger NATO intervention and, with it, that of the U.S. and many consequences beyond the already-dangerous ones attendant to the Ukraine invasion.  As is usual, we will not attempt to forecast Fed monetary policy or that in other nations, but we here note the stresses created by global financial-market uncertainty and broader macroeconomic stress.

SANCTION16.pdf

1 12, 2021

Daily120121

2023-05-23T14:07:25-04:00December 1st, 2021|2- Daily Briefing|

FRB-NY Staff Assess CBDC Mission Impact
With Chairman Powell yesterday reiterating that the Fed will soon seek views on CBDC (see Client Report FEDERALRESERVE64), the New York Fed’s blog post today is a timely assessment of whether central-bank digital currency advances core central-bank missions.

CFPB Launches Anti-Overdraft, Pro-Portability Campaign
In concert with a new CFPB report, CFPB Director Chopra today announced that the Bureau will soon limit overdraft and NSF fees and undertake an array of other reforms to retail banking.

FFIEC Tackles New AML Priorities
Rec The FFIEC today released a significant rewrite of their BSA/AML examination manual, stressing not only an array of new priorities, but also recognition that current standards have unintentionally but often decisively encouraged derisking.

Daily120121.pdf

Go to Top